$BTC Binance announced the decision, stating that this move aligns with the latest guidelines from European Union authorities regarding stablecoin regulations.

In January, the European Securities and Markets Authority (ESMA) directed all cryptocurrency exchanges to verify whether the assets listed on their platforms comply with MiCA laws.

The EU authority issued instructions to exchanges to identify and suspend trading of tokens that do not comply with MiCA legislation.

According to the guidelines, Binance stated that First Digital USD (FDUSD), Pax Dollar (USDP), Dai (DAI), Anchored Euro (AEUR), TerraUSD (UST), TerraClassicUSD (USTC), TrueUSD (TUSD), Paxos Gold (PAXG), along with Tether, will not be available to its users in the EU starting April 1.

Stablecoins are crypto tokens that are backed by an underlying asset, typically fiat currencies or reserve assets such as gold.